Australian dollar

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Macro Morning: Gold tanks

I have to hand it to the Fed they have been as transparent as a central bank can be with regard this taper caper and although the market took heed of more soothing words last night the fact that so many Fed Presidents and Governors are addressing the markets reaction to last week’s FOMC announcement

3

Macro Morning: Dead cat

I don’t trust last night’s rally in US stock markets. Sure everyone in equity land was happy that Shanghai scrapped its way back from nearly 6% down to close to square on the back of PBOC hopes but if markets last week sold off on the basis that the taper is coming and that central

2

Macro Morning: Gold spanked

Markets all over the world came under pressure last night as much from the directness of the Fed’s words and intentions and then a little bit of strong US data and as much from position squaring as investors and traders all over the world reduce their bets and get their funds closer to their index

22

Australian dollar to soar, bellows bull’s bull

From CNBC, Clifford Bennett, perhaps Australia’s most irrepressible bull, has some good news for you: Australia’s economy has been clouded with negative forecasts in recent weeks with some even warning of a dip back into recession, but a recent report argues the economy is poised for a rapid acceleration in the coming months. According to

1

Macro Morning: Crash, bang, wallop

Rightyo, what a night! Bernanke didn’t fluff his words last night as he looked the camera in the eye and said that if things go as the FOMC thinks they will then the taper is on track to begin this year, and that the unemployment rate in 2014 is going to be in the 6.5-6.8%

0

Macro Morning: Shifting sentiment

Is it possible that for all the criticism that has been directed at the Fed that the nuances are actually starting to become apparent between a “taper” and a withdrawal of stimulus? I’ll have a chat about it below but as a recap stocks did really well last night, better than I would have thought

3

IMF to publish Australian dollar reserve holdings

From the AFR: The Australian dollar will from next week be included in an influential global database of central bank foreign exchange holdings, potentially supporting its status as an emerging reserve currency. The International Monetary Fund will on June 28 publish for the first time quarterly central bank reserve holdings of the Australian currency. The

4

Macro Morning: Australian dollar sell

Given the choice was extreme volatility or mostly quiet trade in the lead up to the FOMC meeting later this week I’m guessing there are a huge number of traders who are happy that it was quiet market trade that prevailed in the end. All except the Aussie dollar which had another wild night opening

4

Macro Morning: Volatility spreads

When I said that it was BoJ day yesterday not for a minute did I think that their decision, which I expected, to leave things as they are, would ignite the kind of growing mess we saw overnight and a growing instability that threatens to becoming all enveloping. But with the Nikkei and Asian stock

0

Macro Morning: BoJ day

By Greg McKenna Markets are at an incredibly critical juncture at the moment with the notions that a Fed taper is coming as soon as next week top of my mind with the resultant impact on stocks front and centre too. I‘ll talk about that a little later but first lets focus on the massive 4.9% rally

16

Queue to short the Australian dollar

From the WSJ: U.S. hedge fund managers are lining up to sell the already battered Australian dollar, BlackRock Managing Director Michael Trudel said. Mr. Trudel told The Wall Street Journal that “there are some pretty prominent hedge fund managers back in the states that have been vocal on getting short the Australian dollar.” “We’ve rarely

15

Short AUD on slowing China: strategist

Above is an interesting interview on CNBC video with Todd Elmer, Currency Strategist at Citi, explaining why now is the time short the Australian dollar. He says a slowing China has led him to change his previous bullish call on the currency. While I’m no currency strategist, I agree with his sentiments. The economy is

0

Macro Morning: Ugly all around

Nikkei, FTSE, DAX, CAC, Dow, S&P 500, USDJPY, AUDUSD and so the list goes on on a night where reality continued to bite and bite hard. Japanese PM Shinzo Abe’s “Third Arrow” announcement yesterday left the market flat and circled round and hit him in the backside it seems as both the Nikkei and USDJPY

10

Mrs Watanabe brings home the bacon

One reason why Australian stocks and the dollar are struggling became a little clearer this morning. And it has little to do with Australia or US tapering. Japan released its weekly foreign stock and bond buying flows and the news is money is flooding home. After last week’s  804 billion yen repatriation in bonds and